Chow Tai Fook - China's Largest Jewelry Retailer Will Inaugurate Its First Foreign Luxury Store in Singapore

Chow Tai Fook Jewelry Group, China's largest jewelry retailer, is establishing a luxury store in Singapore as part of its global expansion strategy.

Chow Tai Fook Jewellery Group opened a newly designed flagship store in Central, Hong Kong, on September 10, 2024.

The 96-year-old corporation listed in Hong Kong is poised to inaugurate its inaugural offshore luxury store in October at Changi Airport, targeting both Singaporeans and visitors, despite an average price point of approximately SGD40,000 (US$31,000), as reported by The Straits Times.

The business intends to inaugurate an additional premium outlet in Bangkok prior to the year's conclusion. It currently has eight luxury stores in locations including as Beijing, Shanghai, Wuhan, Shenzhen, and Hong Kong.

Gabriela Ferreira, the general manager for international markets at the company, stated that the U.S. tariffs had compelled Chow Tai Fook to redirect investments to regions including Latin America, Southeast Asia, and Canada.

Chow Tai Fook, having operated in Singapore for over a decade with six locations, regards the new Changi shop as the first establishment of many throughout Southeast Asia.

We possess a strong brand reputation and deem it essential to introduce a new image in Singapore. "Subsequently, we will gradually expand into other Southeast Asian markets," Ferreira stated.

The brand has more than 6,000 locations globally. Approximately 60 of these stores are situated outside China, with 20 located in Southeast Asia.